Nashik’s gold market recorded an estimated turnover of around Rs 120 crore on Dasara, as residents continued buying coins, bars and jewellery despite gold prices reaching record levels, according to the Nashik Jewellers’ Association.
Jewellers reported strong business through the festive day, with several families also purchasing ornaments ahead of the upcoming wedding season. Girish Navase, president of the Nashik Jewellers’ Association, estimated that the city’s jewellery market saw 15-20% growth in business value compared with Dasara last year.
Navase said the higher turnover did not necessarily represent a comparable increase in the quantity of gold sold. “The increase in business value is largely due to rise in gold prices over the past year. In terms of volume, the business is largely similar, but higher prices have increased turnover,” he said.
Gold prices were around Rs 1.45 lakh per 10 grams, excluding GST, on Dasara this year. That compares with approximately Rs 1.17 lakh per 10 grams on Dasara in 2025 and around Rs 75,000 per 10 grams in 2024. Silver was trading at approximately Rs 1.34 lakh per kg, excluding GST, compared with Rs 1.18 lakh per kg a year earlier.
Chetan Rajapurkar, a senior member of the Nashik Jewellers’ Association and president of the North Maharashtra unit of the India Bullion and Jewellers’ Association, said consumer sentiment remained positive despite the rise in precious-metal prices. He said demand was particularly strong for gold bars and coins bought as investments, while gold and silver ornaments also recorded high demand.
According to Rajapurkar, some customers have increasingly begun booking jewellery during Navaratra and taking delivery on Dasara. He said this trend had become more visible over the past four to five years, especially after the Covid period. The pattern has added a booking phase before the main festive-day purchases.
Jewellers also reported demand for 9-carat gold jewellery, which is comparatively more affordable than higher-purity options. The product category offered buyers a way to continue participating in festive and wedding-related purchases while managing the impact of higher gold prices.
The estimated Rs 120 crore turnover reflects the value of transactions across Nashik’s jewellery market on the festive day. The association’s assessment also indicates that rising prices have lifted the monetary value of sales even as the overall volume of gold purchased remained broadly similar to the previous year, according to Navase.
The market’s next major demand period is expected to be linked to the upcoming wedding season, when families typically make jewellery purchases. The Nashik Jewellers’ Association and the India Bullion and Jewellers’ Association’s North Maharashtra unit provided the sales and market estimates cited in the report.
